DigitalBridge Group (NYSE:DBRG) Sees Large Volume Increase - What's Next?

Key Points

• DigitalBridge Group shares traded near $15.98 as mid-day volume reached approximately 3.14 million shares, down 10% from the prior session.
• Weiss Ratings upgraded the stock from “hold” to “buy,” but the broader analyst consensus remains “Hold”, with a consensus price target of $16.00.
• DigitalBridge declared a quarterly dividend of $0.01 per share, equal to a $0.04 annualized payout and a 0.3% yield; institutional investors own 92.69% of the company.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) saw an uptick in trading volume on Tuesday . Approximately 3,139,273 shares changed hands during mid-day trading, a decline of 10% from the previous session's volume of 3,477,439 shares.The stock last traded at $15.9750 and had previously closed at $15.98.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of DigitalBridge Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Stock Performance

The company's 50-day moving average price is $15.83 and its 200-day moving average price is $15.63. The firm has a market capitalization of $3.00 billion, a PE ratio of 10.37 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group's payout ratio is currently 2.60%.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in DBRG. Steward Partners Investment Advisory LLC grew its holdings in shares of DigitalBridge Group by 305.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock worth $27,000 after buying an additional 1,326 shares during the last quarter. Parallel Advisors LLC lifted its position in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock worth $29,000 after acquiring an additional 781 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in DigitalBridge Group during the 4th quarter worth approximately $31,000. Beaird Harris Wealth Management LLC purchased a new position in shares of DigitalBridge Group in the 4th quarter valued at approximately $31,000. Finally, Quarry LP grew its stake in shares of DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company's stock valued at $31,000 after purchasing an additional 1,922 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc NYSE: DBRG is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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